If you’ve decided to take the plunge into trading in currencies, your first step will be to choose a Forex broker. A quick search will provide a huge choice of brokers and at a first glance they may seem to be fairly similar, giving the impression that it will not matter which one you choose. In fact, nothing could be further from the truth. Choosing the right Forex broker can make or break your trading success and time spent selecting the best broker for you will not be wasted.
Look for good regulation
With the accessibility provided by the internet, it is easy to access forex brokers domiciled all over the world, but some countries are less well-regulated than others. Choosing an unregulated broker is highly risky, so checking the regulation of a broker should be one of your first steps. The UK’s Financial Conduct Authority (FCA) is a particularly stringent regulator and a broker regulated by the FCA has proved it can meet the strict standards required. [Read more…] about Choosing the right broker is essential for success in Forex trading